African Union - African Countries Economy

By: Anne Catherine

The African continent comprises of some of the poorest countries in the world. However, the continent is very rich in natural resources. The trick to development lies in the optimum utilization of these natural resources with proper management of the human resources. Barring South Africa and Egypt, most of the African countries are reeling under poverty and are isolated from the current trends of the world. It has been increasingly felt by the thinkers and leaders of these countries that foreign investors have to be attracted if there is to be progress and development in the Dark Continent. The leaders and economic thinkers of the poverty struck African countries have come together to form a union that will work towards economically uplifting the member countries. This union has been christened the African Union and it is expected to utilize the positive trends of global economy in boosting up the economies of the member countries. The union will also be committed to attract foreign investors towards Africa so that the investors as well as the African people can avail of mutual benefits by indulging in business together.



The African Union is aiming at turning the fortunes of the continent the way India did. India is also counted among the poorest countries in the world. However, the country has managed to attract foreign investors and from then on it has tasted new flavors of success. One thing that is particularly necessary to remember is that just attracting foreign investors is not enough. India has been able to provide them utmost satisfaction, especially in the field of Information Technology. India has bred a class of IT professionals that can hold their own in the face of toughest competitions and can give competition to any expert IT professional from the developed countries at any given point of time. The educational institutions in India are regarded to be first- rate institutions and are counted among the best institutions in the world. Today, India has come a long way and has managed to bring in a number of multinational companies and foreign investments to the country. Software has almost become a forte in India and an Indian is currently the preferred option for clients looking forward to avail of software services as technical and as complex as and .

Coming back to the African Union, it is not necessary that the African countries also take up the pawn of IT to hook foreign investments. They can make use of some other aspects of their countries that will prove to be beneficial for the purpose of foreign investment. The correct marketing is also important. It's the task of the Union to highlight the positive facets of the African economy that can be utilized by the foreign investors as soon as they reach the African countries. As the Union is like the spokesperson for all African countries, it is the responsibility of the union to take note of the current economic trends and apply the same to boost up the economies of the member countries. At the same time, the union can introduce the economic prospects available in the African countries to the outside world and enhance the growth of African economy.

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